Inventory Adjustments in the Industrial Equipment Market
First written in FY2024-Q2. 4 of 8 entries say "Mitigated", first in FY2024. Latest entry: FY2026.
The whole theme swung hardest in 2023: 9 of 16 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Although inventory adjustments had largely run their course by the end of the fiscal year, a full-scale recovery had not been achieved.」
The company explained that inventory adjustments in the industrial equipment market had largely run their course by the end of the fiscal year, representing some easing from the prolonged trend through the previous fiscal year. However, a full-scale recovery had not been achieved. - FY2026-H1WorsenedAnnual report
「In the industrial equipment market, customer inventory adjustments have been prolonged by the decline in demand from China」
Regarding the inventory adjustments in the industrial equipment market described in the previous fiscal year, the company explained that they had been prolonged by the decline in demand from China, indicating that the impact was continuing and worsening. - FY2025RestatedAnnual report
「In industrial equipment applications, inventory adjustments were observed, while conditions in the Chinese market also remained unstable and business stayed sluggish.」
The company continues to describe the inventory adjustments in the industrial equipment market reported since the previous fiscal year, together with continued instability in the Chinese market. - FY2025-H1WorsenedAnnual report
「In the industries in which the Group operates, electronic components and semiconductors followed a mixed course, affected by certification issues in Japan's automotive-related sector, the slowdown in the Chinese market for industrial equipment, and inventory adjustments resulting from customers holding excess inventory.」
Regarding the inventory adjustments described in the previous fiscal year as moving toward a normalised supply-demand balance, the company this time explicitly identified adjustments caused by customers holding excess inventory as an industry trend, together with the slowdown in the Chinese market and certification issues, as factors worsening the demand environment. - FY2024MitigatedAnnual report
「Although there was a temporary adjustment caused by excessive ordering during product shortages and the correction of excess inventories, the supply-demand balance has been normalising」
The company explained that inventory adjustments in the industrial equipment market remained, while the supply-demand balance was moving toward normalisation. - FY2024-Q2First statedAnnual report
「The industries in which the RYODEN Group operates saw inventory adjustments in parts of the industrial equipment market」
The filing identified inventory adjustments in the industrial equipment market for the first time as a standalone risk factor.